Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill , Copyrights, Research and Development costs, Franchise. Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life. To record: the journal entries for intangible assets during 2017.

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Answer 1

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Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

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Answer 2

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Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

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Answer 3

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Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

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Answer 4

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Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

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Answer 6

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Answer 7

Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

Answer 8

Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

Answer 9

Chapter 9, Problem 9.12E

(a)

To determine

Intangible Assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. Example: Patent, Trademark, Goodwill, Copyrights, Research and Development costs, Franchise.

Amortization: It is the process of allocating the value of the intangible assets over its estimated useful life.

To record: the journal entries for intangible assets during 2017.

Answer 10

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

Answer 11

(b)

To determine

To record: the journal entries for amortization expense as on December 31, 2017.

Answer 12

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

Answer 13

(c)

To determine

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 9 - Prob. 1Q Ch. 9 - Prob. 2Q Ch. 9 - Prob. 3Q Ch. 9 - Prob. 4Q Ch. 9 - Prob. 5Q Ch. 9 - Prob. 6Q Ch. 9 - Prob. 7Q Ch. 9 - Prob. 8Q Ch. 9 - Prob. 9Q Ch. 9 - In the fourth year of an assets 5-year useful...

Solution Summary: The author explains how to record the journal entries for intangible assets during 2017 — Patent, Trademark, Goodwill, Copyrights, Research and Development costs, and Franchise.

To record: the journal entries for amortization expense as on December 31, 2017.

To indicate: the intangible assets accounted balances to be reported as on December 31, 2017.

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Chapter 9 Solutions